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hammersteve:- I have bought on Ponta Bicuda. The deposit is only 40% before completion, which is a lot less than most developments, although this may change(So get in now) it happened at Ponta Preta in Sal. The rental guarantee is handy if you do not want the hassle of being a landlord. Its not due to be completed until late 2009/early 2010 so by that time its pretty certain direct flights will be in place.
hi – did get an invite but not going – today from 3pm to 8pm at the May Fair hotel
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Hi.
Does anyone have a definitive date for commencement of the work on the first phase? Thankswhen i got my second 10% payment letter recently, they advised that groundworks would start in November.
I seperately got e-mail conf that foundation work would not then start until the New Year, so next phase payment will be circa Mid Feb08 (30 days after the foundations start)
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anyone having probs getting into Ponta Bicudas website (goes blank after about 5 seconds) ?
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still having probs getting all the options on the website . could someone quickly try and report back please.
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Hi seagullsslimjim:- I have just been on the Ponta Bicuda site, and it is working perfectly.
You must have a computer problem….if I remember I had a problem with macromedia a few months ago, which prohibited me from accessing the Ponta Bicuda site.
Hi all. FYI i went on the official Ponta Bicuda website yesterday and it has been given a bit of an overhaul. Take care. Steve.
lucky you’ve only just gone back in
Virgilio emailed me when it came on line 2 or 3 weeks ago
Unfortunately i had to point out 15 + errors including non links and typos.
you’ll see that the prices have gone up too
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Prices going up in a depressed market?!?! Despite what any of the developers are saying the sales in CV (and I guess most other places) have slowed right down.
What’s the thinking behind a price rise do you think? Trying to convince existing investors that they’re property is still growing in value?
Maybe the prices are going up, maybe they are stagnant, maybe they are going down. In a couple of years time, the development will start to happen and people can make their own decision. There are so many variables. What will the exchange rate be? Will there be direct flights? Will the infrastructure be able to support the development? Will it be better/worse than Sambala? What will the global economy be? All these things are beyond our control. The bottom line is that for less than the cost of a studio in Putney I have bought a lovely property in a potentially stunning location on a high class development with a rental guarantee that means I have no significant financial exposure until 2015. Whether it went up by £10k last month or lost £5k with the Euro is not relevant. Focus on the bigger picture. If you are not sure yourself, I would be happy to buy any property that you are getting cold feet on if you are happy to walk away with your original purchase price.
price rises due to the fact that 75% overall of the properties advertised have been sold.
so if the remainder don’t go at the higher prices in the next two years, they can always drop them back, but as money in the bank on the sold ones, they have exceeded their current budget requirements.
It also coincides with the start of the building work, which is seen by potential buyers that things are moving on
Just simple economics at the end of the day.
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Hi seagullsslimjim:- When you say there have been price rises,can you be more specific i.e what communities etc.
lemanistan:- Is there any movement on the Ponta Bicuda site.Also of course if the developers have raised the prices in their community, some investors may want to flip their property.
I am still of the opinion that no matter where you buy(Cape Verde has more pluses than minuses),as long as you have done your homework,you can not lose over the long term.
hi optiontrader – if you go into their site and and click on the interactive map you’ll see the new prices
for instance a one bed cliff apartment in Tedju which was €160k is now €175k
these rises took place from the middle of December
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No movement yet but I hear that they’re not planning anything until next year anyway.
I agree with everyone that the long term prospects for the Verde are good. General infrastructure development, increasing tourist numbers and real trade improvements with EU etc are all good indicators. The issue for developers in general is their reliance on sales to finance build. No/low sales can mean slow build and nervous banks. 75% sold is good but the resort infrastructure spend at PB is gonna be heavier than the sea level resorts in Sal and Boa Vista for example. Mind you, at least the Santiago resorts won’t have to worry about sea levels rising.
snyone looking to buy in any overseas market post 2005 lookinmg to flip must need thir rose coloured specs surgially removing.
History always repeats and as posters have said CV is unique and a chance to get in at the start with a 10-15 year view.
the comfort is that its a fab location and usable. Bulgaria was never going to be long term , and wait for the first bombing in a Morrocan tourist development,with Algeria next door
there’s a 3 year recession on the way and flippers will be lost finacially.
at the end of the day, its quality of life – not pounds in the pocket!
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